ALEXANDRIA, Va.—NCUA’s Office of Inspector General (OIG) conducted a self-initiated audit of the Asset Management and Assistance Center (AMC) that found its control activities over its liquidation process adequately have safeguarded personally identifiable information (PII) during the pre-liquidation planning process, records maintenance, and destruction of records of liquidated credit unions.
The audit was undertaken to assess the AMAC’s ability to protect PII within the records of liquidated credit unions. The findings were first reported by Keith Leggett, the former senior vice president and senior economist at the ABA.
NCUA’s liquidation process consists of three phases: liquidation planning, on-site liquidation tasks, and off-site liquidation tasks.
As a result of the audit’s findings, the OIG did not make any recommendations.